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We Domesticate Foreign Judgments in Massachusetts. Therefore, to implement and enforce it, the creditor must get the judgment domesticated. Cohen LLC, we domesticate your foreign judgment in Massachusetts and simultaneously work to secure payment of that judgment. A mechanics lien serves like collateral.
Filing a mechanic’s lien may not be enough to get paid. Believing the owner did not pay the general contractor for your work, you filed a mechanic’s lien against the property at 123 First Avenue. Extending the Mechanic’s Lien. Foreclosing on a Mechanic’s Lien. Securing Payment.
For example, a subcontractor and/or general contractor can utilize a mechanic’s lien , and a moving and storage facility can use a warehouseman’s lien. The creditor, by virtue of their security interest, can generally can take some or all of the collateral to secure the indebtedness through an expedited court order.
The term also includes a transaction with a true-up mechanism for financing that is repaid as a fixed payment but provides for a reconciliation that “adjusts the payment” to an amount that is a percentage of sales or revenue.
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